NETSTREIT Corp. (NYSE:NTST) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,218 shares of the company’s stock after selling 8,272 shares during the quarter. Franklin Resources Inc. owned 0.43% of NETSTREIT worth $4,956,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NTST. Swiss National Bank boosted its stake in shares of NETSTREIT by 5.7% in the 4th quarter. Swiss National Bank now owns 152,200 shares of the company’s stock valued at $2,154,000 after buying an additional 8,200 shares during the period. Nordea Investment Management AB purchased a new position in NETSTREIT in the fourth quarter worth approximately $6,714,000. JPMorgan Chase & Co. grew its holdings in NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after acquiring an additional 361,577 shares in the last quarter. Vestcor Inc purchased a new stake in shares of NETSTREIT in the 3rd quarter valued at approximately $913,000. Finally, Geode Capital Management LLC raised its holdings in shares of NETSTREIT by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after purchasing an additional 112,047 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NTST shares. Raymond James cut their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company began coverage on NETSTREIT in a report on Monday. They issued an “overweight” rating and a $18.00 price target for the company. Capital One Financial began coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. Finally, Mizuho upped their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $18.03.

NETSTREIT Stock Down 0.1 %

Shares of NYSE:NTST opened at $15.09 on Friday. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $18.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The stock has a market cap of $1.23 billion, a P/E ratio of -251.41 and a beta of 0.91. The firm has a fifty day moving average price of $14.88 and a 200 day moving average price of $15.12.

NETSTREIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date was Friday, March 14th. NETSTREIT’s dividend payout ratio is currently -525.00%.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer acquired 3,616 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the transaction, the chief executive officer now directly owns 295,252 shares in the company, valued at approximately $4,493,735.44. This represents a 1.24 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have purchased 12,000 shares of company stock worth $183,172 in the last quarter. Company insiders own 0.46% of the company’s stock.

About NETSTREIT

NETSTREIT Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets.